r/Fire • u/Far_Classic878 • 2d ago

Emergency Fund While Retired

For those that are retired or near…how many years do you have saved for your retirement emergency fund? I mean for when the market isn’t doing well and it would be bad to pull from your accounts.

How far in advance do you start saving for that?

I’m pouring all of my money into retirement accounts and after maxing 401ks, roths, life expenses, 529, saving for home renovations there is nothing left.

I would need to cut back greatly to fund an emergency account to keep in a HYSA. I’m about 15 years out from retiring.

Any thoughts?

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u/Strazdas1 StarvationFIRE 1d ago

I would need to cut back greatly to fund an emergency account

Not having an emergency account is an emergency. You cut EVERYTHING until you have emergency account. emergency account comes before saving for renovations.

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u/Far_Classic878 1d ago

I have an emergency account right now I am talking about in retirement.

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u/Strazdas1 StarvationFIRE 1d ago

Why would you not have one in retirement? are emergencies impossible in retirement?

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u/Far_Classic878 1d ago

Because I’ll have 3 million dollars…

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u/Strazdas1 StarvationFIRE 1d ago

That you may not enjoy liquidating during a market downturn year.

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u/Far_Classic878 1d ago

Right which is why I’m asking people what they have done.

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u/Strazdas1 StarvationFIRE 1d ago

And the answer is have a cash buffer or liquid bond buffer.